The internet has revolutionized the world itself. The only area that seems to be lagging behind is the proof of locations in a map. With many other unethical behaviors on the move, there is a need for a solid, reliable solution for this issue. Foam protocol can be easily termed as the consensus-driven map of the world. It is a blockchain based platform offering an open source platform for geospatial data market.
The foam protocol aims to generate a platform with its user at its center, which tags real-world location so that it can build a consensus-driven map of the world. This platform will act as a foundation or a base of operations filled with trustable data that can be used by various decentralized or centralized applications shortly. The platform being decentralized makes use of the permissionless protocol with a combination of an autonomous network of “radio beacons” to offer its users safe location. This is safe because the radio beacon signal can never be tampered with and is considered as foolproof.
FOAM has Ryan John King at the helm, decorating the post of the co-founder and CEO. He is an entrepreneur with a back ground in urban economics. Kristoffer Jossefson is the Co-founder and the chief technology officer of FOAM protocol. He is a senior full stack blockchain and smart contract developer. Katya Zavyalova is the compliance and chief compliance officer at FOAM protocol. Martin Allen is the chief blockchain engineer. Arthur Roing Baer is the creative marketing director. Ilya Ostrovsky is the protocol engineer.
FOAM tokens will act as the incentive medium of exchange in the FOAM Protocol network. Initially, this will only include the collaboration of TCRs, but as the network and the internal economy grows, “mining” incentives for user signaling will be introduced. The token sale is planned to take place in May/June of 2018.
Information regarding the foam protocol is not yet available. No roadmap has been made available as of yet. The team has been quite active regarding social marketing. More information about the progress and transparency about their plans should be included for increasing investor. This information are needed before making any decisions on this.
FOAM aims to turn networks of special data into real-time markets. Foam wants to provide proof of location. Foam also wants to standardize locations so that they can use smart contracts they also use incentives for location-based data. The foam will also maintain property registry on Etherium while securing the Internet of Things devices, supply chains, and maps. For Foam to be successful, it will rely on the community to adopt its platform.
FOAM incentivizes a distributed network of beacons with radio transceivers, called Zone Anchors, to be deployed. The first signal to joining the network in to find these anchors and joining with them. Proof of Location is solely depended on the accuracy of the synchronized clocks. Zone Anchors send messages until a consensus can be formed on the precise time. The time difference of messages sent and received allows for a location to be calculated and the geometry of the network to be determined. They rely on a Byzantine Fault-tolerant clock synchronization protocol.